Friday, February 12, 2016

3D Systems Q4, FY2015 Conference Call on Feb 29, 8:30 AM ET

ROCK HILL, SC, USA, Feb 12, 2016 - 3D Systems (NYSE:DDD) announced that it plans to hold a conference call and simultaneous webcast to discuss its financial results for the fourth quarter and full year of 2015 on Monday, February 29, 2016, at 8:30 a.m. Eastern Time.

In connection with its annual goodwill and intangibles testing, the company expects to record a non-cash goodwill and intangibles impairment charge in the fourth quarter of 2015 in the range of $510 million to $570 million. These impairment charges will not impact the company’s future business activities or cash flows. As of December 31, 2015, the company closed the quarter with approximately $156 million of cash on hand and had no borrowings under its $150 million revolving credit facility.

Additionally, the company expects to report revenue for the fourth quarter of approximately $183 million and that the previously disclosed charge related to inventory write downs and purchase commitments in connection with its shift away from consumer products will be approximately $27 million.

“Industry conditions remain challenging and demand may be uneven in the coming periods. However, we are confident about the long-term opportunities for our technology and solutions,” commented Andy Johnson, Interim President & CEO and Chief Legal Officer, 3D Systems. “We are prioritizing our resources around professional and industrial applications to foster sustainable growth and improve profitability.”

The company plans to release its fourth quarter and full year 2015 financial results and file its Form 10-K on February 29, 2016.

These are preliminary results and estimates based on current expectations and are subject to year-end closing adjustments and completion of goodwill and intangibles impairment testing. Actual results may differ.